Leeds property market is booming

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According to a November 2016 Yorkshire Evening Post article, accountancy firm Hentons says that Leeds has experienced significant property investment activity over the last 18 months, with £30m invested.

There is a strong demand for student housing in the city, with new developments being built and buy-to-let investors converting property for student use.

Attracted by the weak pound, investors from the Middle East have purchased many residential properties in Leeds.

There is also high demand in the West Yorkshire city for retail and office space. If the proposed high speed rail link, HS2 is built, then this could increase interest in people and businesses wanting to relocate to Leeds.

Investors are also helped by the low interest rates available on commercial mortgages.

Savills, the estates agents, forecast that house prices in Yorkshire will fall by 2% next year, and then rise by 1.5% in 2018 and by 4% in 2019. Many investors put off by the high cost of London property are looking to Northern cities like Leeds for more affordable property that is also expected to rise in value.

Leeds has seen economic and population growth in the last few years, and this has meant a high demand by first-time homebuyers and people looking for rented accommodation.

Nadeem Ahmed of Hentons said:

“While the London market is expensive to enter and, as a result, offers investors slim returns, Leeds will continue to shine. There is headroom in Leeds, and it’s a relatively stable market. We are seeing a new confidence in the City that is underpinning a significant growth.”

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